Citigroup Inc. Increases Stake in Sabra Health Care REIT, Inc. (NASDAQ:SBRA)

Citigroup Inc. boosted its position in shares of Sabra Health Care REIT, Inc. (NASDAQ:SBRA - Free Report) by 104.0% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 316,007 shares of the real estate investment trust's stock after purchasing an additional 161,071 shares during the quarter. Citigroup Inc. owned about 0.13% of Sabra Health Care REIT worth $5,881,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Family Firm Inc. bought a new stake in shares of Sabra Health Care REIT in the second quarter valued at about $26,000. Assetmark Inc. lifted its position in shares of Sabra Health Care REIT by 168.4% in the 3rd quarter. Assetmark Inc. now owns 1,962 shares of the real estate investment trust's stock worth $37,000 after purchasing an additional 1,231 shares during the period. GAMMA Investing LLC boosted its stake in shares of Sabra Health Care REIT by 40.0% during the second quarter. GAMMA Investing LLC now owns 3,682 shares of the real estate investment trust's stock valued at $57,000 after purchasing an additional 1,052 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new position in Sabra Health Care REIT during the third quarter valued at approximately $78,000. Finally, International Assets Investment Management LLC raised its stake in Sabra Health Care REIT by 1,761.0% in the third quarter. International Assets Investment Management LLC now owns 6,104 shares of the real estate investment trust's stock worth $114,000 after buying an additional 5,776 shares in the last quarter. 99.40% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SBRA has been the topic of a number of analyst reports. Citigroup upgraded Sabra Health Care REIT from a "neutral" rating to a "buy" rating and lifted their price target for the company from $17.00 to $20.00 in a report on Friday, September 13th. Scotiabank lifted their target price on Sabra Health Care REIT from $17.00 to $18.00 and gave the company a "sector perform" rating in a research note on Friday, October 11th. Wells Fargo & Company raised shares of Sabra Health Care REIT from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $16.00 to $20.00 in a research report on Tuesday, October 1st. Finally, Truist Financial boosted their price objective on shares of Sabra Health Care REIT from $16.00 to $18.00 and gave the stock a "buy" rating in a research note on Wednesday, September 4th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Sabra Health Care REIT presently has a consensus rating of "Moderate Buy" and a consensus target price of $18.71.

Sabra Health Care REIT Stock Performance

Sabra Health Care REIT stock traded down $0.36 during mid-day trading on Monday, reaching $18.37. 1,468,951 shares of the company traded hands, compared to its average volume of 2,041,658. Sabra Health Care REIT, Inc. has a fifty-two week low of $12.83 and a fifty-two week high of $20.03. The firm's fifty day moving average is $18.64 and its two-hundred day moving average is $16.86. The company has a debt-to-equity ratio of 0.90, a current ratio of 4.16 and a quick ratio of 4.16. The company has a market capitalization of $4.35 billion, a price-to-earnings ratio of 45.68, a price-to-earnings-growth ratio of 2.35 and a beta of 1.25.

Sabra Health Care REIT (NASDAQ:SBRA - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The real estate investment trust reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.22). Sabra Health Care REIT had a net margin of 14.20% and a return on equity of 3.51%. The firm had revenue of $178.00 million for the quarter, compared to analysts' expectations of $177.19 million. During the same quarter in the previous year, the firm posted $0.34 EPS. On average, equities research analysts expect that Sabra Health Care REIT, Inc. will post 1.39 earnings per share for the current fiscal year.

Sabra Health Care REIT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were paid a $0.30 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 6.53%. Sabra Health Care REIT's payout ratio is currently 292.69%.

Sabra Health Care REIT Company Profile

As of September 30, 2023, Sabra's investment portfolio included 377 real estate properties held for investment (consisting of (i) 240 Skilled Nursing/Transitional Care facilities, (ii) 43 senior housing communities (Senior Housing - Leased), (iii) 61 senior housing communities operated by third-party property managers pursuant to property management agreements (Senior Housing - Managed), (iv) 18 Behavioral Health facilities and (v) 15 Specialty Hospitals and Other facilities), 12 investments in loans receivable (consisting of two mortgage loans and 10 other loans), five preferred equity investments and two investments in unconsolidated joint ventures.